- Cirralto (CRO) changes its name to Spenda following shareholder approval and will trade under the ticker code SPX
- The change takes on the name of the company’s Spenda software platform, with 99.8 per cent of votes in favour of the new name
- The change will be effective from the commencement of trading on Tuesday February 8
- Shares ended trade today 5.8 per cent higher at 3.6 cents
Cirralto (CRO) has changed its name to Spenda following shareholder approval and will trade under the ticker code SPX.
At the company’s annual general meeting held on Monday, more than 648 million proxy votes were received in regards to the name change with 99.8 per cent of the votes in its favour.
Less than a half a per cent of the votes, which was still around 1.6 million, voted against the change.
The new name takes on the company’s Spenda software platform, which is designed to help manage customer payment flows and offer real-time business payment services, debt collection capabilities, and inventory management.
The company was previously known as Motopia before it changed to Cirralto in November 2017.
The new change will come in to effect from the commencement of trading on Tuesday February 8.
Today’s announcement follows the company’s quarterly report for the period ending December 31 which saw its share price drop.
Investors seem to have reacted positively to today’s announcement as the company share price was up 5.8 per cent at the end of trade. Shares closed at 3.6 cents.